Australian Gross Domestic Product (GDP) is a key release and is published each quarter. GDP measures production and growth of the economy, and is considered by analysts as one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Wednesday at 1:30 GMT. Indicator Background Australian GDP is a key economic indicator, and provides an excellent indication of the health and direction of the Australian economy. Traders should pay close attention to this release, as an unexpected reading could affect the direction of AUD/USD. The indicator has been steady in recent releases, and posted a gain of 0.6% in Q4 of 2012, which matched the forecast. The markets are expecting a slight improvement for Q1, with an estimate of a 0.8% gain. Will GDP meet or beat this prediction? Sentiments and levels The Australian dollar had a disastrous May, losing eight cents last month. AUD/USD has posted sharp gains to start the week, but the upward momentum could prove to be just a temporary blip. Retail Sales missed the estimate, and a weak GDP reading could quickly snuff out this upward rally. Also, if the RBA does cut rates once again, the Aussie will likely take a hit. So, the overall sentiment is bearish on GBP/USD towards this release. Technical levels, from top to bottom: 1.00, 0.9913, 0.9797, 0.9549, 0.9405, and 0.9275. 5 Scenarios Within expectations: 0.6% to 1.0%. In such a scenario, AUD/USD is likely to rise within range, with a small chance of breaking higher. Above expectations: 1.1% to 1.4%: An unexpected higher reading can push the pair above one resistance line. Well above expectations: Above 1.4%: An surge in the reading would likely boost the Aussie, and the pair could break a second line of resistance as a result. Below expectations: 0.2% to 0.5%: In this scenario, AUD/USD could drop below one support level. Well below expectations: Below 0.2%. A very weak reading could hurt the Australian dollar, and the pair could fall below a second level of support. For more on the pound, see the AUD/USD forecast. To follow this event live: [do action=”calendar-event” eventid=”ea62704e-57a4-4d22-856f-ad642047bdc7″/] Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next RBA leaves rates unchanged but warns about exchange rate Yohay Elam 9 years Australian Gross Domestic Product (GDP) is a key release and is published each quarter. GDP measures production and growth of the economy, and is considered by analysts as one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Wednesday at 1:30 GMT. Indicator Background Australian GDP is a key economic indicator, and provides an excellent indication of the health and direction of the Australian economy. Traders should pay close attention to this release, as… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.